FATF Recommendation 16 - Virtual Asset Travel Rule
R.16 VATR: Technical Infrastructure (IVMS101) and Data Quality

FATF Recommendation 16 - Virtual Asset Travel Rule R.16-VATR.IVMS101: InterVASP Messaging Standard (IVMS101) and Travel Rule technical infrastructure

IVMS101 (the InterVASP Messaging Standard) is the global data-interoperability standard for Travel Rule messaging between VASPs - developed by the Joint Working Group on InterVASP Messaging Standards (JWG) which includes representatives from FATF + the major Travel Rule solution providers + industry bodies. IVMS101 standardises the data fields for originator + beneficiary + VASP identification + transfer metadata for interoperable VASP-to-VASP messaging. Competing implementation networks include: TRP (Travel Rule Protocol); TRUST (Travel Rule Universal Solution Technology, established by Coinbase + Anchorage + Robinhood + others); Sygna Bridge; OpenVASP; Notabene; Sumsub Travel Rule; Veriscope; Synchrology; Shyft; 21 Analytics. Network interoperability remains imperfect - many VASPs operate multiple Travel Rule networks to communicate with counterparties on different networks. The 2024 Targeted Update encouraged industry to converge on a small number of interoperable networks + adopt IVMS101 as the lingua franca.

Maintained by Gerard BlokdykControl text last updated

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